GST: Homeopathic medicines, surgical instruments to be cheaper - homeopathy360
News

GST: Homeopathic medicines, surgical instruments to be cheaper

The tax burden on medicines, including Ayurvedic, Unani, Siddha, Homeopathic or Biochemic, will be cheaper. These items presently attract more than 13% tax, including a 6% central excise duty and a 5% VAT.
As against this, the proposed GST rate on medicines, including ayurvedic medicines, is 12%,” the ministry said.
Similarly, medical devices, including surgical instruments, in general attract 6% central excise duty and 5% VAT apart from CST, octroi and entry tax. The present tax incidence on them works out to more than 13%, which is higher than the proposed 12% GST rate.

Leave a Comment